A draw-down loan is a loan which enables the borrower to take out further advances.
In a statement, SAA’s Chief Commercial Officer Philip Saunders says SAA is a key strategic asset and the restructuring will provide an opportunity for it to provide reliable connectivity to markets within South Africa, the African continent as well as servicing selected international routes. SAA has advised passengers, travel agencies and airline partners to continue booking flights on the airline.
The company has not made a profit since 2011 and has had more than R20 billion in bailouts over the last three years.
At what cost to the dwindling tax payer base?
🤣🤣🤣🤣 pravingordhan CyrilRamaphosa the world is laughing at you
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